February 4, 2022: -On Wednesday, Shares of social network operators Pinterest, Snap, and Twitter declined in extended trading after Facebook owner Meta Platforms issued its fourth-quarter earnings statement that sent the stock down 22%.
Shares of Snap decreased more than 18% after hours. Pinterest moved nearly 10% lower, while Twitter was nearly 8%.
But the impact wasn’t limited to social media. The shares of Amazon, which has a growing advertising business, were down more than 3%. Amazon reports results on Thursday.
Shares of Microsoft, which has exposure to advertising, including through business social network LinkedIn, moved nearly 1% lower.
Facebook’s earnings and user numbers for the fourth quarter decreased short of expectations, and its quarterly revenue guidance range came in below consensus as well.
Microsoft CEO Satya Nadella talked up the opportunity in digital advertising in the previous week, which tells analysts that advertising revenue in the past 12 months, which includes LinkedIn, exceeded $10 billion before traffic acquisition costs.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
November 29, 2022: The chief executive and different senior leaders at Adidas discussed the potential that is falling out from …
November 29, 2022: analysts said that China would not likely make significant changes to its Covid policy shortly despite this …
November 29, 2022: Wesley Ng stated the fundamentals run a business by watching his parents run their hotel …
November 28, 2022: The Renault Group is performing with French utility Engie on devising a geothermal energy assignment at …
November 28, 2022: On Thursday, Nintendo said its latest Pokémon games had formed a deals record in the Japanese gaming business …
November 28, 2022: On Tuesday, Manchester United stated that it was beginning a process to explore strategic alternatives, which …